Adelson completes purchase of US Ambassador's home

Sheldon Adelson and US Ambassador's residence in Herzliya Pituah / Photo: Eyal Izhar, Globes

In the most expensive ever residential real estate deal in Israel, Sheldon Adelson will pay over NIS 250 million as well as NIS 20 million purchase tax.

US billionaire Sheldon Adelson completed the purchase of the US Ambassador's residence in Herzliya Pituah last week, sources inform "Globes." Adelson is paying over NIS 250 million for the property, making it the most expensive ever home bought in Israel, and he will pay NIS 20 million in purchase tax on the deal. A spokesperson for Sheldon Adelson declined to comment on the report.

After "Globes" revealed in August that Adelson was about to buy the house, the US Embassy in Israel spokesperson said earlier this month, "Following the announcement of the move of the US Embassy to Jerusalem, the Department undertook a review of both existing and available diplomatic property in Israel to determine the best alignment to support the US Mission."

The spokesperson added, "In response to that review, planning for the sale of the former US Ambassador's residence in Tel Aviv began in 2019 with marketing of the property beginning in January of 2020. The Department of State has recently selected the buyer for the sale of the former Chief of Mission Residence in Herzliya Israel. The buyer was selected solely on the basis of having submitted the highest and best offer. The selected buyer and the unsuccessful bidders have been notified. The Embassy will vacate the Chief of Mission Residence in spring of 2021."

The US Ambassador's residence is at 40 Galei Tachelet St., which contains the country's most expensive homes. The 1,000 square meters house, which was built in the 1960s, is on a 5,000 square meters lot, with large gardens above cliffs overlooking the sea.

Among Adelson's neighbors are Israeli billionaire Teddy Sagi, who bought a house in Galei Tachelet Street for NIS 146 million in 2010, and Russian-Israeli businessman Roman Abramovich, who bought a house several streets away earlier this year from British hedge fund manager Alan Howard for NIS 226 million - the previous highest amount paid for a home in Israel.

Published by Globes, Israel business news - en.globes.co.il - on September 21, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Sheldon Adelson and US Ambassador's residence in Herzliya Pituah / Photo: Eyal Izhar, Globes
Sheldon Adelson and US Ambassador's residence in Herzliya Pituah / Photo: Eyal Izhar, Globes
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